Allsop raised €55.2 million from the sale of 155 lots (representing a success rate of 86%) at its fifth residential auction of 2024. The highest value lot sold under the hammer was a freehold parade of six newbuild houses in Westcliff-on-Sea, Essex, which sold for €2.4m.
Residential auction highlights include Maescoed Farm, Hereford – a freehold grade II listed farmhouse and outbuildings set in 16ha of land, sold for €1m, Shirland Road, Maida Vale – a freehold mid-terrace building comprising 6 bedsits and a ground floor commercial unit, sold for €1.2m, Watts Moses House, Sunderland – A freehold unbroken block of 43 self-contained flats, sold for €2.1m, and Westcliff-on-Sea – a freehold parade of six new build houses, sold for €2.4m.
Richard Adamson, managing partner and residential auctioneer at Allsop, said: “We are delighted with yet another very strong auction result. This month’s sale is a very positive sign that the market is feeling more upbeat and confident. Whilst pricing remains very sensitive, there is clearly an increase in buyers returning to the market with more than twice the number of buyers registering to bid at our auction compared to the same time last year. We are in the process of putting together the lots for our next auction in June, which based on early indications looks likely to be a catalogue of high quality and volume.”
Allsop’s next residential auction will be live streamed and take place on 19th and 20th June 2024.
Image provided by SECNewgate.
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